Bitcoin drops below $20,000 as crypto meltdown continues

The price of $Bitcoin(BTC.CC)$ breached $19,000 and ethereum fell below $1,000 Saturday morning, extending the brutal crypto bear market to new lows.
Bitcoin plunged nearly 10% in less than 24 hours, adding to a series of sustained losses over the last several months. It now sits below $20,000 for the first time since November 2020, down more than 70% from an all-time high of $68,000 per coin in November 2021. B itcoin has lost $900 billion in value since that peak.
$Ethereum(ETH.CC)$ is also experiencing a so-called crypto winter. The second-largest digital token plummeted 10% on Saturday to $975, its lowest level since January 2021. The coin has lost 80% of its value from its record high last November.
The massive crypto meltdown is part of a larger market downturn brought on by elevated inflation, rising interest rates, war in Ukraine, Covid lockdowns and supply chain chaos.
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